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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|
For the quarterly period ended August 31, 2024 |
|
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|
For the transition period from __________ to __________ |
Commission file number: 333-188648
ANVI GLOBAL HOLDINGS, INC.
(Exact name of registrant as specified in its Charter)
Nevada |
33-1226144 |
(State or other jurisdiction of |
(I.R.S. Employer |
incorporation or organization) |
Identification No.) |
1135 Kildaire Farm Road, Suite 319-4
Cary,
NC |
27511 |
(Address of principal executive offices) |
(Zip Code) |
Registrant's telephone number, including area code:
(408) 821-4491
N/A
(Former name, former address and former fiscal year,
if changed since last report)
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during
the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes ☒ No
☐
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was
required to submit such files). Yes ☒ No
☐
Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions
of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging
growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐ |
Accelerated filer ☐ |
Non-accelerated filer ☒ |
Smaller reporting company ☒ |
|
Emerging growth company ☐ |
If
an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐
No ☒
Securities registered pursuant to Section 12(b) of the
Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
N/A |
N/A |
N/A |
State the number of shares outstanding of each of the
issuer’s classes of common equity, as of the latest practicable date: As of October 4, 2024 the issuer had 119,950,000 shares of
its common stock issued and outstanding.
TABLE OF CONTENTS
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
ANVI GLOBAL HOLDINGS, INC.
CONDENSED BALANCE
SHEETS |
| |
| | |
| |
| |
August
31, 2024 | | |
February
29, 2024 | |
ASSETS | |
| (Unaudited) | | |
| (Audited) | |
Current Assets: | |
| | | |
| | |
Cash | |
$ | 2,926 | | |
$ | 1,334 | |
Prepaids | |
| 5,200 | | |
| 13,000 | |
| |
| | | |
| | |
Total Current Assets | |
| 8,126 | | |
| 14,334 | |
| |
| | | |
| | |
Total Assets | |
$ | 8,126 | | |
$ | 14,334 | |
| |
| | | |
| | |
LIABILITIES AND STOCKHOLDERS' DEFICIT | |
| | | |
| | |
| |
| | | |
| | |
Current Liabilities: | |
| | | |
| | |
Accounts payable | |
$ | 20,562 | | |
$ | 21,761 | |
Accounts payable - related party | |
| 576,000 | | |
| 504,000 | |
Accrued liabilities - related party | |
| 900,000 | | |
| 900,000 | |
Due to an officer | |
| 577,905 | | |
| 548,805 | |
Total current | |
| 2,074,467 | | |
| 1,974,566 | |
| |
| | | |
| | |
Total Liabilities | |
| 2,074,467 | | |
| 1,974,566 | |
| |
| | | |
| | |
Commitments and contingencies | |
| — | | |
| — | |
| |
| | | |
| | |
Stockholders' Deficit: | |
| | | |
| | |
Preferred stock, $0.001 par value; 50,000,000 shares authorized no shares issued and outstanding | |
| — | | |
| — | |
Common stock, $0.001 par value; 500,000,000 shares authorized, 119,950,000 shares issued and outstanding | |
| 119,950 | | |
| 119,950 | |
Additional paid-in capital | |
| (61,450 | ) | |
| (61,450 | ) |
Accumulated deficit | |
| (2,124,841 | ) | |
| (2,018,732 | ) |
| |
| | | |
| | |
Total Stockholders’ Deficit | |
| (2,066,341 | ) | |
| (1,960,232 | ) |
| |
| | | |
| | |
Total Liabilities and Stockholders' Deficit | |
$ | 8,126 | | |
$ | 14,334 | |
The accompanying notes are an integral part of these
unaudited condensed financial statements.
ANVI GLOBAL HOLDINGS, INC.
CONDENSED STATEMENTS
OF OPERATIONS
(Unaudited) |
| |
| | |
| | |
| | |
| |
| |
For the Three Months Ended | | |
For the Six Months Ended | |
| |
August 31, | | |
August 31, | |
| |
2024 | | |
2023 | | |
2024 | | |
2023 | |
| |
| | |
| | |
| | |
| |
Operating Expenses: | |
| | | |
| | | |
| | | |
| | |
General and administrative expenses | |
$ | 51,012 | | |
$ | 52,365 | | |
$ | 106,109 | | |
$ | 106,043 | |
Total operating expenses | |
| 51,012 | | |
| 52,365 | | |
| 106,109 | | |
| 106,043 | |
| |
| | | |
| | | |
| | | |
| | |
Loss from operations | |
| (51,012 | ) | |
| (52,365 | ) | |
| (106,109 | ) | |
| (106,043 | ) |
| |
| | | |
| | | |
| | | |
| | |
Other income: | |
| | | |
| | | |
| | | |
| | |
Gain from settlement of accounts payable | |
| — | | |
| — | | |
| — | | |
| 14,051 | |
Total other income | |
| — | | |
| — | | |
| — | | |
| 14,051 | |
| |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | |
Provision for income taxes | |
| — | | |
| — | | |
| — | | |
| — | |
| |
| | | |
| | | |
| | | |
| | |
Net loss | |
$ | (51,012 | ) | |
$ | (52,365 | ) | |
$ | (106,109 | ) | |
$ | (91,992 | ) |
| |
| | | |
| | | |
| | | |
| | |
Basic loss per share | |
$ | (0.00 | ) | |
$ | (0.00 | ) | |
$ | (0.00 | ) | |
$ | (0.00 | ) |
Diluted loss per share | |
$ | (0.00 | ) | |
$ | (0.00 | ) | |
$ | (0.00 | ) | |
$ | (0.00 | ) |
| |
| | | |
| | | |
| | | |
| | |
Basic weighted average shares | |
| 119,950,000 | | |
| 119,950,000 | | |
| 119,950,000 | | |
| 119,950,000 | |
Diluted weighted average shares | |
| 119,950,000 | | |
| 119,950,000 | | |
| 119,950,000 | | |
| 119,950,000 | |
The accompanying notes are an integral part of these
unaudited condensed financial statements.
ANVI GLOBAL HOLDINGS, INC.
CONDENSED STATEMENTS
OF STOCKHOLDERS' DEFICIT
(Unaudited)
| |
| | |
| | |
| | |
| | |
| |
| |
Common Stock | | |
Additional | | |
| | |
Total | |
| |
Shares | | |
Amount | | |
Paid in Capital | | |
Accumulated Deficit | | |
Stockholders' Deficit | |
Balance, February 29, 2024 | |
| 119,950,000 | | |
$ | 119,950 | | |
$ | (61,450 | ) | |
$ | (2,018,732 | ) | |
$ | (1,960,232 | ) |
Net Loss | |
| — | | |
| — | | |
| — | | |
| (55,097 | ) | |
| (55,097 | ) |
Balance, May 31, 2024 | |
| 119,950,000 | | |
| 119,950 | | |
| (61,450 | ) | |
| (2,073,829 | ) | |
| (2,015,329 | ) |
Net Loss | |
| — | | |
| — | | |
| — | | |
| (51,012 | ) | |
| (51,012 | ) |
Balance, August 31, 2024 | |
| 119,950,000 | | |
$ | 119,950 | | |
$ | (61,450 | ) | |
$ | (2,124,841 | ) | |
$ | (2,066,341 | ) |
| |
Common Stock | | |
Additional | | |
| | |
Total | |
| |
Shares | | |
Amount | | |
Paid in Capital | | |
Accumulated Deficit | | |
Stockholders' Deficit | |
Balance, February 28, 2023 | |
| 119,950,000 | | |
$ | 119,950 | | |
$ | (61,450 | ) | |
$ | (1,833,357 | ) | |
$ | (1,774,857 | ) |
Net Loss | |
| — | | |
| — | | |
| — | | |
| (39,627 | ) | |
| (39,627 | ) |
Balance, May 31, 2023 | |
| 119,950,000 | | |
| 119,950 | | |
| (61,450 | ) | |
| (1,872,984 | ) | |
| (1,814,484 | ) |
Net Loss | |
| — | | |
| — | | |
| — | | |
| (52,365 | ) | |
| (52,365 | ) |
Balance, August 31, 2023 | |
| 119,950,000 | | |
$ | 119,950 | | |
$ | (61,450 | ) | |
$ | (1,925,349 | ) | |
$ | (1,866,849 | ) |
The accompanying notes are an integral part of these
unaudited condensed financial statements.
ANVI GLOBAL HOLDINGS, INC.
CONDENSED STATEMENTS
OF CASH FLOWS
(Unaudited) |
| |
| | | |
| | |
| |
For
the Six Months Ended August 31, | |
| |
2024 | | |
2023 | |
Cash flows from operating activities: | |
| | | |
| | |
Net loss | |
$ | (106,109 | ) | |
$ | (91,992 | ) |
Adjustments to reconcile net loss to net cash used in operating activities: | |
| | | |
| | |
Gain on debt settlement | |
| — | | |
| (14,051 | ) |
Changes in assets and liabilities: | |
| | | |
| | |
Prepaids | |
| 7,800 | | |
| 7,500 | |
Accounts payable | |
| (1,199 | ) | |
| (8,890 | ) |
Accounts payable - related party | |
| 72,000 | | |
| 72,000 | |
Net cash used in operating activities | |
| (27,508 | ) | |
| (35,433 | ) |
| |
| | | |
| | |
Cash flows from investing activities: | |
| — | | |
| — | |
| |
| | | |
| | |
Cash flows from financing activities: | |
| | | |
| | |
Advances from an officer | |
| 29,100 | | |
| 34,085 | |
Net cash provided by financing activities | |
| 29,100 | | |
| 34,085 | |
| |
| | | |
| | |
Net change in cash | |
| 1,592 | | |
| (1,348 | ) |
| |
| | | |
| | |
Cash, beginning of period | |
| 1,334 | | |
| 1,567 | |
| |
| | | |
| | |
Cash, end of period | |
$ | 2,926 | | |
$ | 219 | |
| |
| | | |
| | |
Cash paid during the period for: | |
| | | |
| | |
Interest | |
$ | — | | |
$ | — | |
Income taxes | |
$ | — | | |
$ | — | |
The accompanying notes are an integral part of these
unaudited condensed financial statements.
ANVI GLOBAL HOLDINGS, INC.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
AUGUST 31, 2024
NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS
Anvi Global Holdings, Inc., (the “Company”
“AGH”) was incorporated under the laws of the State of Nevada on August 15, 2012.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The Company’s unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.
GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items,
which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not
necessarily indicative of the results to be expected for the full year ending February 28, 2025. These unaudited condensed financial statements
should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K
for the year ended February 29, 2024.
Use of Estimates
The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment.
Actual results could differ from those estimates.
Concentrations of Credit Risk
We maintain our cash in bank deposit accounts, the
balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have
not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash.
Cash Equivalents
The Company considers all highly liquid investments
with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents for the six months ended
August 31, 2024 and the year ended February 29, 2024.
Recent Accounting Pronouncements
The Company has
implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial
statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have
been issued that might have a material impact on its financial position or results of operations.
NOTE 3 - GOING CONCERN
The accompanying unaudited financial statements
have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal
course of business. The Company has had no revenue and has accumulated a deficit of $2,124,841 as of August 31, 2024. The Company requires
capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the
future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company’s
contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company
to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s
ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the
outcome of these uncertainties.
The Company has discussed ways in order to mitigate
conditions or events that may raise substantial doubt about its ability to continue as a going concern, there are no assurances that any
of these measures will successfully mitigate or be effective at all. (1) The Company shall pursue financing plans to raise funds to judiciously
spend towards operational expenses, (2) The Company shall continue to employ low cost measures to operate its business and analyze any
unnecessary cost or expense, (3) The Company will seek to avoid unnecessary expenditures, travel, and lodging costs that are not mission
critical to its business.
NOTE 4 – PREPAID TRANSACTIONS
As of August 31, 2024 and February 29, 2024,
the Company had $5,200 and $13,000 of prepaid expenses, respectively, for OTC Market’s annual fee.
NOTE 5 – RELATED PARTY TRANSACTIONS
On May 28, 2014,
the Company executed a service agreement with Strategic-IT Group Inc. Strategic-IT Group Inc. is owned and operated by Rama Mohan R. Busa,
CEO. Services to be provided at $12,000 a month include, but are not limited to, providing office space, IT and related services, business
consulting, and investor relations. On July 27, 2020, the service agreement was assigned to Anvi Global Inc (a company owned by the CEO).
As of August 31, 2024 and February 29, 2024, the Company has an accrued, unpaid balance
due of $900,000 and $900,000, respectively.
On July 27,
2020, Strategic-IT Group Inc., assigned their service agreement with the Company to Anvi Global, Inc. All terms under the original agreement
remain the same. Anvi Global, Inc. is owned by the CEO. As of August 31, 2024 and February
29, 2024, the Company has accounts payable due to Anvi Global, Inc. of $576,000 and $504,000, respectively.
Since 2018 Rama
Mohan R. Busa, CEO, has advanced funds to the Company from his personal account and related companies. The advances are to pay for operating
expenses, are unsecured, non-interest bearing and due on demand. As of August 31, 2024
and February 29, 2024, the balance due was $577,905 and $548,805,
respectively.
NOTE 6 – SUBSEQUENT EVENTS
In accordance with SFAS 165 (ASC 855-10) management
has performed an evaluation of subsequent events through the date that the unaudited financial statements were available to be issued
and has determined that it does not have any material subsequent events to disclose in these unaudited financial statements.
Special Note Regarding Forward-Looking Statements
The following discussion should be read in conjunction
with our unaudited financial statements, which are included elsewhere in this Form 10-Q (the “Report”). This Report contains
forward-looking statements which relate to future events or our future financial performance. In some cases, you can identify forward-looking
statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” “potential” or “continue” or the negative
of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties,
and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.
While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current
judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions,
projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities
laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
Anvi Global Holdings, Inc. was incorporated in the
State of Nevada on August 15, 2012 and established a fiscal year end of February 28. We formed the Company to commence operations in the
business of selling crepes; however, we abandoned that business when control of the Company was sold by Tatiana Fumioka, on May 6, 2014.
As a result, we are now controlled by Rama Mohan R. Busa, the principal shareholder and sole officer and director.
Anvi Global Holdings, Inc now intends to become a
diversified, global holdings company with interest in a suite of businesses in various key segments, including mining, infrastructure,
heavy earthworks, health services and aerospace engineering, positioned globally. The Company’s objective is to maximize shareholder
value through investing in and/or acquiring a portfolio of companies in emerging global markets like India, South America and Africa,
adding value to the operating enterprises. The Company plans to invest in or acquire businesses which offer strategic market position,
strong cash flows and robust future potential growth, which are complementary to each other. The Company intends to broaden and intensify
positions in carefully selected investment areas and is poised to have strong presence across these countries. As of the date of this
Report, the Company has not invested in or acquired any assets or company.
Results of Operations
The three months ended August 31, 2024 compared to the three months
ended August 31, 2023
Operating Expenses
General and administrative expenses were $51,012 for
the three months ended August 31, 2024, compared to $52,365 the three months ended August 31, 2023, a decrease of $1,353 or 2.6%. In the
current period, we incurred $36,000 of expense from our service agreement with Strategic-IT Group Inc. (Note 5), professional fees of
$9,600, OTC Market fees of $3,900 and other general expenses of $1,512. In the prior period, we incurred $36,000 of expense from our service
agreement with Strategic-IT Group Inc. (Note 5), professional fees of $6,411, OTC Market fees of $3,750 and other general expenses of
$6,204.
Net Loss
Our net loss for the three months ended August 31,
2024 was $51,012 compared to $52,365 for the three months ended August 31, 2023.
The six months ended August 31, 2024 compared to the six months ended
August 31, 2023
Operating Expenses
General and administrative expenses were $106,109
for the six months ended August 31, 2024, compared to $106,043 the six months ended August 31, 2023, an increase of only $66 or 0.1%.
In the current period, we incurred $72,000 of expense from our service agreement with Strategic-IT Group Inc. (Note 5), professional fees
of $23,200, OTC Market fees of $7,800 and other general expenses of $3,109. In the prior period, we incurred $36,000 of expense from our
service agreement with Strategic-IT Group Inc. (Note 5), professional fees of $18,711, OTC Market fees of $7,500 and other general expenses
of $7,832.
Other Income
For the six months ended August 31, 2024 and 2023,
we recognized $0 and $14,051 of other income, respectively, from the write off of accounts payable.
Net Loss
Our net loss for the six months ended August 31, 2024
was $106,109 compared to $91,992 for the six months ended August 31, 2023.
Liquidity and Capital Resources
Cash Flows from Operating Activities
For the six-month period ended August 31, 2024, net
cash flows used in operating activities was $27,508 compared to $35,433 used by operating activities in the prior period
Cash Flows from Financing Activities
For the six-month period ended August 31, 2024 and
2023, our CEO advanced the Company $29,100 and $34,085, respectively.
Plan of Operation and Funding
We have no lines of credit or other bank financing
arrangements capital and generate revenues to meet long-term operating requirements. If and when we commence any operations, additional
issuances of equity or convertible debt securities will result in dilution to our current shareholders. Further, such securities might
have rights, preferences or privileges senior to our common stock. Additional financing may not be available upon acceptable terms, or
at all. If adequate funds are not available or are not available on acceptable terms, we may not be able to take advantage of prospective
new business endeavors or opportunities, which could significantly and materially restrict our business operations.
We do not currently engage in enough business activities
that provide cash flow. During the next twelve months we anticipate incurring costs related to:
|
(i) |
filing of Exchange Act reports, and |
|
(ii) |
costs relating to developing our business plan |
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
None.
ITEM 4. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
As required by Rule 13a-15 under the Securities Exchange
Act of 1934, we have carried out an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the period
covered by this quarterly report, August 31, 2024. This evaluation was carried out under the supervision and with the participation of
our management, including our Chief Executive Officer and Chief Financial Officer.
Disclosure controls and procedures are controls and
other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities
Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange
Commission’s rules and forms. Disclosure controls and procedures include controls and procedures designed to ensure that information
required to be disclosed in our company’s reports filed under the Securities Exchange Act of 1934 is accumulated and communicated
to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure.
Based upon that evaluation, including our Chief Executive
Officer and Chief Financial Officer, we have concluded that our disclosure controls and procedures were ineffective as of the end of the
period covered by this report due to a material weakness in our internal control over financial reporting, which is described below.
Management’s Report on Internal Control over
Financial Reporting
Our management is responsible for establishing and
maintaining adequate internal control over financial reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934).
Management has assessed the effectiveness of our internal control over financial reporting as of August 31, 2024, based on criteria using
the Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.
As a result of this assessment, management concluded that, as of August 31, 2024, our internal control over financial reporting was not
effective. Our management identified the following material weaknesses in our internal control over financial reporting, which are indicative
of many small companies with small staff: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written
policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC
guidelines.
We plan to take steps to enhance and improve the design
of our internal control over financial reporting. During the period covered by this quarterly report on Form 10-Q, we have not been able
to remediate the material weaknesses identified above. To remediate such weaknesses, we hope to implement the following changes during
our fiscal year ending February 28, 2025: (i) appoint additional qualified personnel to address inadequate segregation of duties and ineffective
risk management; and (ii) adopt sufficient written policies and procedures for accounting and financial reporting. The remediation efforts
set out in (i) and (ii) are largely dependent upon our securing additional financing to cover the costs of implementing the changes required.
If we are unsuccessful in securing such funds, remediation efforts may be adversely affected in a material manner.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over
financial reporting during the quarter ended August 31, 2024, that have materially affected or are reasonably likely to materially affect,
our internal control over financial reporting.
PART II. OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
There are not presently any material pending legal
proceedings to which the Registrant is a party or as to which any of its property is subject, and no such proceedings are known to the
Registrant to be threatened or contemplated against it.
ITEM 1A. RISK FACTORS
A smaller reporting company is not required to provide the information
required by this Item.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
ITEM 5. OTHER INFORMATION
During the quarter ended August 31, 2024, no director or officer of
the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1
trading arrangement”, as each term is defined in Item 408(a) of Regulation S-K.
ITEM 6. EXHIBITS
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
ANVI GLOBAL HOLDINGS, INC. |
|
|
|
Dated: October 11, 2024 |
By: |
/s/ Rama Mohan R. Busa |
|
|
Rama Mohan R. Busa |
|
|
President, Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Directors |
Exhibit 31.1
CERTIFICATION
I, Rama Mohan R. Busa, Chief Executive Officer and Chief Financial Officer
of ANVI GLOBAL HOLDINGS, INC., certify that:
1. I have reviewed this Quarterly Report on Form 10-Q of ANVI GLOBAL HOLDINGS,
INC.;
2. Based on my knowledge, this report does not contain any untrue statement
of material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial
information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows
of the registrant as of, and for, the periods presented in this report;
4. I am responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d- 15(e)) and internal control over financial reporting (as defined in
Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a) designed such disclosure controls and procedures, or caused
such disclosure control and procedures to be designed under my supervision, to ensure that material information relating to the registrant,
including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which
this report is being prepared;
b) designed such internal control over financial reporting, or
caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted
accounting principles;
c) evaluated the effectiveness of the registrant's disclosure
controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures,
as of the end of the period covered by this report based on such evaluation;
d) disclosed in this report any change in the registrant's internal
control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter
in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal
control over financial reporting; and
5. I have disclosed, based on my most recent evaluation of internal control
over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing
the equivalent functions):
a) all significant deficiencies and material weaknesses in the
design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability
to record, process summarize and report financial information; and
b) any fraud, whether or not material, that involves management
or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: October 11, 2024
/s/ Rama Mohan R. Busa |
|
Rama Mohan R. Busa, |
|
Chief Executive Officer and |
|
Chief Financial Officer |
|
Exhibit 32.1
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of ANVI GLOBAL HOLDINGS, INC.
(the "Company") on Form 10-Q for the quarter ended August 31, 2024 as filed with the Securities and Exchange Commission on the
date hereof (the "Report"), the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to
18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:
1. The Report fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and
2. The information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the Company.
Date: October 11, 2024
/s/ Rama Mohan R. Busa |
|
Rama Mohan R. Busa, |
|
Chief Executive Officer and |
|
Chief Financial Officer |
|
v3.24.3
Cover - shares
|
6 Months Ended |
|
Aug. 31, 2024 |
Oct. 04, 2024 |
Cover [Abstract] |
|
|
Document Type |
10-Q
|
|
Amendment Flag |
false
|
|
Document Quarterly Report |
true
|
|
Document Transition Report |
false
|
|
Document Period End Date |
Aug. 31, 2024
|
|
Document Fiscal Period Focus |
Q2
|
|
Document Fiscal Year Focus |
2025
|
|
Current Fiscal Year End Date |
--02-28
|
|
Entity File Number |
333-188648
|
|
Entity Registrant Name |
ANVI GLOBAL HOLDINGS, INC.
|
|
Entity Central Index Key |
0001570132
|
|
Entity Tax Identification Number |
33-1226144
|
|
Entity Incorporation, State or Country Code |
NV
|
|
Entity Address, Address Line One |
1135 Kildaire Farm Road
|
|
Entity Address, Address Line Two |
Suite 319-4
|
|
Entity Address, City or Town |
Cary
|
|
Entity Address, State or Province |
NC
|
|
Entity Address, Postal Zip Code |
27511
|
|
City Area Code |
408
|
|
Local Phone Number |
821-4491
|
|
Entity Current Reporting Status |
Yes
|
|
Entity Interactive Data Current |
Yes
|
|
Entity Filer Category |
Non-accelerated Filer
|
|
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true
|
|
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v3.24.3
CONDENSED BALANCE SHEETS - USD ($)
|
Aug. 31, 2024 |
Feb. 29, 2024 |
Current Assets: |
|
|
Cash |
$ 2,926
|
$ 1,334
|
Prepaids |
5,200
|
13,000
|
Total Current Assets |
8,126
|
14,334
|
Total Assets |
8,126
|
14,334
|
Current Liabilities: |
|
|
Accounts payable |
20,562
|
21,761
|
Accounts payable - related party |
576,000
|
504,000
|
Accrued liabilities - related party |
900,000
|
900,000
|
Due to an officer |
577,905
|
548,805
|
Total current |
2,074,467
|
1,974,566
|
Total Liabilities |
2,074,467
|
1,974,566
|
Commitments and contingencies |
|
|
Stockholders' Deficit: |
|
|
Preferred stock, $0.001 par value; 50,000,000 shares authorized no shares issued and outstanding |
0
|
0
|
Common stock, $0.001 par value; 500,000,000 shares authorized, 119,950,000 shares issued and outstanding |
119,950
|
119,950
|
Additional paid-in capital |
(61,450)
|
(61,450)
|
Accumulated deficit |
(2,124,841)
|
(2,018,732)
|
Total Stockholders’ Deficit |
(2,066,341)
|
(1,960,232)
|
Total Liabilities and Stockholders' Deficit |
$ 8,126
|
$ 14,334
|
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v3.24.3
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares
|
Aug. 31, 2024 |
Feb. 29, 2024 |
Statement of Financial Position [Abstract] |
|
|
Preferred stock, par value |
$ 0.001
|
$ 0.001
|
Preferred stock, shares authorized |
50,000,000
|
50,000,000
|
Preferred stock, shares issued |
0
|
0
|
Preferred stock, shares outstanding |
0
|
0
|
Common stock, par value |
$ 0.001
|
$ 0.001
|
Common stock, shares authorized |
500,000,000
|
500,000,000
|
Common stock, shares issued |
119,950,000
|
119,950,000
|
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119,950,000
|
119,950,000
|
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v3.24.3
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
|
3 Months Ended |
6 Months Ended |
Aug. 31, 2024 |
Aug. 31, 2023 |
Aug. 31, 2024 |
Aug. 31, 2023 |
Operating Expenses: |
|
|
|
|
General and administrative expenses |
$ 51,012
|
$ 52,365
|
$ 106,109
|
$ 106,043
|
Total operating expenses |
51,012
|
52,365
|
106,109
|
106,043
|
Loss from operations |
(51,012)
|
(52,365)
|
(106,109)
|
(106,043)
|
Other income: |
|
|
|
|
Gain from settlement of accounts payable |
0
|
0
|
0
|
14,051
|
Total other income |
0
|
0
|
0
|
14,051
|
Loss before income taxes |
(51,012)
|
(52,365)
|
(106,109)
|
(91,992)
|
Provision for income taxes |
0
|
0
|
0
|
0
|
Net loss |
$ (51,012)
|
$ (52,365)
|
$ (106,109)
|
$ (91,992)
|
Basic loss per share |
$ (0.00)
|
$ (0.00)
|
$ (0.00)
|
$ (0.00)
|
Diluted loss per share |
$ (0.00)
|
$ (0.00)
|
$ (0.00)
|
$ (0.00)
|
Basic weighted average shares |
119,950,000
|
119,950,000
|
119,950,000
|
119,950,000
|
Diluted weighted average shares |
119,950,000
|
119,950,000
|
119,950,000
|
119,950,000
|
X |
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v3.24.3
CONDENSED STATEMENTS OF STOCKHOLDERS' DEFICIT (Unaudited) - USD ($)
|
Common Stock [Member] |
Additional Paid-in Capital [Member] |
Retained Earnings [Member] |
Total |
Beginning balance, value at Feb. 28, 2023 |
$ 119,950
|
$ (61,450)
|
$ (1,833,357)
|
$ (1,774,857)
|
Beginning balance, shares at Feb. 28, 2023 |
119,950,000
|
|
|
|
Net Loss |
|
|
(39,627)
|
(39,627)
|
Ending balance, value at May. 31, 2023 |
$ 119,950
|
(61,450)
|
(1,872,984)
|
(1,814,484)
|
Ending balance, shares at May. 31, 2023 |
119,950,000
|
|
|
|
Beginning balance, value at Feb. 28, 2023 |
$ 119,950
|
(61,450)
|
(1,833,357)
|
(1,774,857)
|
Beginning balance, shares at Feb. 28, 2023 |
119,950,000
|
|
|
|
Net Loss |
|
|
|
(91,992)
|
Ending balance, value at Aug. 31, 2023 |
$ 119,950
|
(61,450)
|
(1,925,349)
|
(1,866,849)
|
Ending balance, shares at Aug. 31, 2023 |
119,950,000
|
|
|
|
Beginning balance, value at May. 31, 2023 |
$ 119,950
|
(61,450)
|
(1,872,984)
|
(1,814,484)
|
Beginning balance, shares at May. 31, 2023 |
119,950,000
|
|
|
|
Net Loss |
|
|
(52,365)
|
(52,365)
|
Ending balance, value at Aug. 31, 2023 |
$ 119,950
|
(61,450)
|
(1,925,349)
|
(1,866,849)
|
Ending balance, shares at Aug. 31, 2023 |
119,950,000
|
|
|
|
Beginning balance, value at Feb. 29, 2024 |
$ 119,950
|
(61,450)
|
(2,018,732)
|
(1,960,232)
|
Beginning balance, shares at Feb. 29, 2024 |
119,950,000
|
|
|
|
Net Loss |
|
|
(55,097)
|
(55,097)
|
Ending balance, value at May. 31, 2024 |
$ 119,950
|
(61,450)
|
(2,073,829)
|
(2,015,329)
|
Ending balance, shares at May. 31, 2024 |
119,950,000
|
|
|
|
Beginning balance, value at Feb. 29, 2024 |
$ 119,950
|
(61,450)
|
(2,018,732)
|
(1,960,232)
|
Beginning balance, shares at Feb. 29, 2024 |
119,950,000
|
|
|
|
Net Loss |
|
|
|
(106,109)
|
Ending balance, value at Aug. 31, 2024 |
$ 119,950
|
(61,450)
|
(2,124,841)
|
(2,066,341)
|
Ending balance, shares at Aug. 31, 2024 |
119,950,000
|
|
|
|
Beginning balance, value at May. 31, 2024 |
$ 119,950
|
(61,450)
|
(2,073,829)
|
(2,015,329)
|
Beginning balance, shares at May. 31, 2024 |
119,950,000
|
|
|
|
Net Loss |
|
|
(51,012)
|
(51,012)
|
Ending balance, value at Aug. 31, 2024 |
$ 119,950
|
$ (61,450)
|
$ (2,124,841)
|
$ (2,066,341)
|
Ending balance, shares at Aug. 31, 2024 |
119,950,000
|
|
|
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
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v3.24.3
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
|
6 Months Ended |
Aug. 31, 2024 |
Aug. 31, 2023 |
Cash flows from operating activities: |
|
|
Net loss |
$ (106,109)
|
$ (91,992)
|
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
Gain on debt settlement |
0
|
(14,051)
|
Changes in assets and liabilities: |
|
|
Prepaids |
7,800
|
7,500
|
Accounts payable |
(1,199)
|
(8,890)
|
Accounts payable - related party |
72,000
|
72,000
|
Net cash used in operating activities |
(27,508)
|
(35,433)
|
Cash flows from investing activities: |
0
|
0
|
Cash flows from financing activities: |
|
|
Advances from an officer |
29,100
|
34,085
|
Net cash provided by financing activities |
29,100
|
34,085
|
Net change in cash |
1,592
|
(1,348)
|
Cash, beginning of period |
1,334
|
1,567
|
Cash, end of period |
2,926
|
219
|
Cash paid during the period for: |
|
|
Interest |
0
|
0
|
Income taxes |
$ 0
|
$ 0
|
X |
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v3.24.3
Pay vs Performance Disclosure - USD ($)
|
3 Months Ended |
6 Months Ended |
Aug. 31, 2024 |
May 31, 2024 |
Aug. 31, 2023 |
May 31, 2023 |
Aug. 31, 2024 |
Aug. 31, 2023 |
Pay vs Performance Disclosure [Table] |
|
|
|
|
|
|
Net Income (Loss) |
$ (51,012)
|
$ (55,097)
|
$ (52,365)
|
$ (39,627)
|
$ (106,109)
|
$ (91,992)
|
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v3.24.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
6 Months Ended |
Aug. 31, 2024 |
Accounting Policies [Abstract] |
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The Company’s unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.
GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items,
which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not
necessarily indicative of the results to be expected for the full year ending February 28, 2025. These unaudited condensed financial statements
should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K
for the year ended February 29, 2024.
Use of Estimates
The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment.
Actual results could differ from those estimates.
Concentrations of Credit Risk
We maintain our cash in bank deposit accounts, the
balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have
not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash.
Cash Equivalents
The Company considers all highly liquid investments
with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents for the six months ended
August 31, 2024 and the year ended February 29, 2024.
Recent Accounting Pronouncements
The Company has
implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial
statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have
been issued that might have a material impact on its financial position or results of operations.
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v3.24.3
GOING CONCERN
|
6 Months Ended |
Aug. 31, 2024 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
GOING CONCERN |
NOTE 3 - GOING CONCERN
The accompanying unaudited financial statements
have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal
course of business. The Company has had no revenue and has accumulated a deficit of $2,124,841 as of August 31, 2024. The Company requires
capital for its contemplated operational and marketing activities. The Company’s ability to raise additional capital through the
future issuances of common stock is unknown. The obtainment of additional financing, the successful development of the Company’s
contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company
to continue operations. These conditions and the ability to successfully resolve these factors raise substantial doubt about the Company’s
ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the
outcome of these uncertainties.
The Company has discussed ways in order to mitigate
conditions or events that may raise substantial doubt about its ability to continue as a going concern, there are no assurances that any
of these measures will successfully mitigate or be effective at all. (1) The Company shall pursue financing plans to raise funds to judiciously
spend towards operational expenses, (2) The Company shall continue to employ low cost measures to operate its business and analyze any
unnecessary cost or expense, (3) The Company will seek to avoid unnecessary expenditures, travel, and lodging costs that are not mission
critical to its business.
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- DefinitionThe entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern.
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v3.24.3
PREPAID TRANSACTIONS
|
6 Months Ended |
Aug. 31, 2024 |
Prepaid Transactions |
|
PREPAID TRANSACTIONS |
NOTE 4 – PREPAID TRANSACTIONS
As of August 31, 2024 and February 29, 2024,
the Company had $5,200 and $13,000 of prepaid expenses, respectively, for OTC Market’s annual fee.
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v3.24.3
RELATED PARTY TRANSACTIONS
|
6 Months Ended |
Aug. 31, 2024 |
Related Party Transactions [Abstract] |
|
RELATED PARTY TRANSACTIONS |
NOTE 5 – RELATED PARTY TRANSACTIONS
On May 28, 2014,
the Company executed a service agreement with Strategic-IT Group Inc. Strategic-IT Group Inc. is owned and operated by Rama Mohan R. Busa,
CEO. Services to be provided at $12,000 a month include, but are not limited to, providing office space, IT and related services, business
consulting, and investor relations. On July 27, 2020, the service agreement was assigned to Anvi Global Inc (a company owned by the CEO).
As of August 31, 2024 and February 29, 2024, the Company has an accrued, unpaid balance
due of $900,000 and $900,000, respectively.
On July 27,
2020, Strategic-IT Group Inc., assigned their service agreement with the Company to Anvi Global, Inc. All terms under the original agreement
remain the same. Anvi Global, Inc. is owned by the CEO. As of August 31, 2024 and February
29, 2024, the Company has accounts payable due to Anvi Global, Inc. of $576,000 and $504,000, respectively.
Since 2018 Rama
Mohan R. Busa, CEO, has advanced funds to the Company from his personal account and related companies. The advances are to pay for operating
expenses, are unsecured, non-interest bearing and due on demand. As of August 31, 2024
and February 29, 2024, the balance due was $577,905 and $548,805,
respectively.
|
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- DefinitionThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
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v3.24.3
SUBSEQUENT EVENTS
|
6 Months Ended |
Aug. 31, 2024 |
Subsequent Events [Abstract] |
|
SUBSEQUENT EVENTS |
NOTE 6 – SUBSEQUENT EVENTS
In accordance with SFAS 165 (ASC 855-10) management
has performed an evaluation of subsequent events through the date that the unaudited financial statements were available to be issued
and has determined that it does not have any material subsequent events to disclose in these unaudited financial statements.
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v3.24.3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
|
6 Months Ended |
Aug. 31, 2024 |
Accounting Policies [Abstract] |
|
Basis of Presentation |
Basis of Presentation
The Company’s unaudited condensed financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.
GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items,
which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not
necessarily indicative of the results to be expected for the full year ending February 28, 2025. These unaudited condensed financial statements
should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K
for the year ended February 29, 2024.
|
Use of Estimates |
Use of Estimates
The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period. Significant estimates include the estimated useful lives of property and equipment.
Actual results could differ from those estimates.
|
Concentrations of Credit Risk |
Concentrations of Credit Risk
We maintain our cash in bank deposit accounts, the
balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have
not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash.
|
Cash Equivalents |
Cash Equivalents
The Company considers all highly liquid investments
with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents for the six months ended
August 31, 2024 and the year ended February 29, 2024.
|
Recent Accounting Pronouncements |
Recent Accounting Pronouncements
The Company has
implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial
statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have
been issued that might have a material impact on its financial position or results of operations.
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v3.24.3
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)
|
May 28, 2014 |
Aug. 31, 2024 |
Feb. 29, 2024 |
Related Party Transaction [Line Items] |
|
|
|
Accrued, unpaid balance due |
|
$ 900,000
|
$ 900,000
|
Advances of unsecured balance due |
|
577,905
|
548,805
|
Service Agreement [Member] | Anvi Global Inc [Member] |
|
|
|
Related Party Transaction [Line Items] |
|
|
|
Monthly service fee |
$ 12,000
|
|
|
Accounts payable due to related party |
|
$ 576,000
|
$ 504,000
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Anvi Global (QB) (USOTC:ANVI)
過去 株価チャート
から 11 2024 まで 12 2024
Anvi Global (QB) (USOTC:ANVI)
過去 株価チャート
から 12 2023 まで 12 2024